Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : MDA - Market Direction Analysis -- Ignore unavailable to you. Want to Upgrade?

To: bobby beara who wrote (29082)	10/11/1999 5:26:00 PM
From: Les H	Respond to of 99985

WHAT TO EXPECT NOW. ORD ORACLE. Oct 11, 1999 Timer Digest (203) 629-3503, has us ranked #1 in performance for the last 12 months in the September 20 issue. The December S&P's did go up and fill the gap at the 1350 area that formed between September 20 close to September 21 open. We talked about that possibility on past commentary that this potential existed. Today in candlestick charting on the December S&P's a bearish "Doji" was drawn. "Doji" patterns at tops are normally reliable patterns for calling market reversals. The "5 day ARMS" closed today at "3.98". Readings near "4.00" and below appear near short term tops. Today marks the fourth day in a row were this indicator was near a reading of "4.00" or below. The longer this indicator stays near a reading of "4.00" the bigger the decline is expected. From the August 25 high to the September 28 low the December S&P's rallied back a 61.8% retracement. This condition implies on the next decline the market should not take out the previous low of 1267 the first time down. Therefore we will be watching the 1270 area real close for signs of support. If the market can close below the 1267 area, than the 1140 would be our next target. marketweb.com